August 03, 2022
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0Anonymous Promised to Solve the Crimes of Terra
Real passions are raging in the world of the dark web. This time they are associated with the founder of Terraform Labs (TFL), Do Kwon.
The well-known hacker group Anonymous became interested in Do Kwon and promised that he would appear in court soon, due to the collapse of the Terra ecosystem.
They reported this in a video published at the end of June.
In addition to the crimes related to Terra, the hackers mentioned Do Kwon’s involvement in the collapse of the stable Basic Cash coin, which he allegedly created under the pseudonym Rick Sanchez at the end of 2020.
The most famous movies worth watching about hackers are here.
What happened?
In May, the collapse of the Terra ecosystem became widely known. Since that time, there have been debates about what could have happened to such a large-scale project based on LUNA to cause the loss of up to $40 billion of investors’ funds in a few weeks.
You may recall that then LUNA was buried by the whole internet. Experts and investors were shocked by the sharp drop in value.
UST and LUNA prices began to decline on May 10. At that time, UST began losing its peg to the dollar and falling sharply. Then the LUNA cryptocurrency, which was used to support the stablecoin, failed.
As a result, LUNA fell by a record 99%, and UST fell from $0.9 to $0.002. Then, bitcoin and several other cryptocurrencies began to fall. As a result, 200,000 crypto wallets of the Terra ecosystem turned into garbage.
As resuscitation measures, the head of Terra, Do Kwon, suggested using hard forks and distributing LUNA tokens. However, this plan never worked, and it is unlikely that it will be able to change anything.
As a result, thousands of dissatisfied crypto investors were left with nothing. All of them are demanding the trial of Do Kwon.
What About Anonymous?
At the end of June, the activist group Anonymous published a video in which it promised to solve the “crimes” of Do Kwon, the co-founder of Terra.
Anonymous is an international network of hacktivists that originated in 2003 on 4chan. They are known for organizing cyberattacks on government agencies, non-government agencies, and private corporations.
Do you want to know more about 4chan? Read more here.
In the video, Anonymous noted that they would “make sure” that Kwon was “brought to justice as soon as possible.” Other crimes of Do Kwon were also publicized in the video.
What was in the video?
The group said it would investigate all of Kwon’s activities in the crypto industry to expose his alleged crimes. Anonymous is confident that many more offenses will be discovered in the career of the head of TFL. In addition, hackers criticized Kwon for his “arrogant tactics” of trolling competitors and critics, and also noted that he behaved “as if he would never fail.”
What about Do Kwon?
However, Do Kwon has bigger problems. The South Korean authorities are currently very interested in Terraform Labs, co-founded by Do Kwon.
In addition, the largest cryptocurrency exchange, Binance, has initiated an investigation into the incident with the Terra cryptocurrency project. The exchange is known for being cooperative with representatives of law enforcement.
Is Binance safe to use? Learn more here.
